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The AI-multibagger stock has given 350% in the past year. In March 2021, shares of ASM Technologies were trading at Rs 141.55. In the last trading session, the stock closed at 636.65 levels. 

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On the breakout of the Russia-Ukraine war, the stock tumbled and fell to 570 levels. Since then, the stock regained its momentum and shot as high as 719 per share this month. 

ASM Technologies is one of India’s premier names in the field of technological services and AI. It has a strong presence in the semiconductor segment as well. This is one of the reasons the stock rallied when the government announced a PLI scheme for the semiconductor industry. 

The board of ASM Technologies recently approved the right issue of 10,00,000 equity shares at Rs 115 apiece. The face value of each share is Rs 10, the rest Rs 105 being the premium. The ratio is 1 share for every 10 fully paid-up equity shares. The issue opens on 07 March 2022 and closes on 21 March 2022 for all the eligible shareholders. 

The company has plans to further diversify and expand into international markets with a key focus in Japan and the UK. It is also in the process of expanding its service offerings and has recently forayed into areas of virtual reality (VR), the internet of things (IoT), Artificial Intelligence (AI) and open edX platform management. 

Apart from this, ASM has also made strategic investments in Digital Engineering, Vehicle Engineering, and Intelligent Automation. 

ASM saw a growth in their net Sales which was up by 25.94% at Rs 47.62 crore from Rs. 37.81 crore in December 2020. The quarterly net profit spiked by 315.73% from Rs. 1.17 crore in December 2020 to Rs. 4.87 crore in December 2021.

Disclaimer

The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

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